Wix.com Misses Q1 Revenue Estimates, Reports -$1.02 EPS
Summary
Wix.com reported first-quarter EPS of -$1.02 and revenue of $541 million, falling short of IBES estimates of $544.2 million. The company also posted an adjusted gross margin of 66%. This earnings announcement provides new, material financial performance data for the company, distinct from its recent capital allocation activities. The revenue miss, coupled with negative EPS, is a significant negative indicator that could pressure the stock. Traders will be closely watching for management's explanation for the revenue shortfall and any updated guidance.
At the time of this announcement, WIX was trading at $76.50 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.2B. The 52-week trading range was $60.22 to $191.24. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.